20 pips daily - page 2
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Is it worth to earn only 20 pips per day? I know that any positive figures are good for the business but, is it really a way to fix the benefit in 20 pips a day? How big is the risk of losing 20 pips… or more
Some can retire with 20 pips a day. All depend of the pip value
FerruFx
I have been trading Forex for 5 years now and am a new poster to this forum. I belong to several others and might be able to help you. So here we go:Basics1) Start with a mini-account with $2502) Risk only 2-3% on any trade. 3% of $250 is $7.50 of margin.3) I suggest with this size of margin, each pip to start needs to be $.10. This gives you a stop loss of 75 pips. If you use $.20 per pip, it's about a 37 pip stop loss. +++20 pip stop losses are not realistic in the Forex or any market+++Trading system I use: SRDC ( Support-Resistance-Daily-Chart)Time Frame: DailyPairs: Any, but works best on EUR/USD.....IMHOMark high and low of previous dayPlace 2 pending orders. A buy stop 2 pips( or whatever your broker spread is) above the high and 2 below the low. Set stop loss at 40 and take profit at at least 80. If you want, you can use a trailing stop of 30.Backtest this and see what you think. Works for me and has for years.Good luck and let me know if I can answer any questions.
ITS SO SIMPLE, I'll try on my demo first by the way what's the ratio of profit you had made for years.
THANKS
mrrom
hello,it seen as if this a site to save the losers in forex thanks a lot ,i am stll trying to see if i can download some indcators but it is dfficult can someoe help?DEO76
I have been trading Forex for 5 years now and am a new poster to this forum. I belong to several others and might be able to help you. So here we go:Basics1) Start with a mini-account with $2502) Risk only 2-3% on any trade. 3% of $250 is $7.50 of margin.3) I suggest with this size of margin, each pip to start needs to be $.10. This gives you a stop loss of 75 pips. If you use $.20 per pip, it's about a 37 pip stop loss. +++20 pip stop losses are not realistic in the Forex or any market+++Trading system I use: SRDC ( Support-Resistance-Daily-Chart)Time Frame: DailyPairs: Any, but works best on EUR/USD.....IMHOMark high and low of previous dayPlace 2 pending orders. A buy stop 2 pips( or whatever your broker spread is) above the high and 2 below the low. Set stop loss at 40 and take profit at at least 80. If you want, you can use a trailing stop of 30.Backtest this and see what you think. Works for me and has for years.Good luck and let me know if I can answer any questions.
hi txtaz88
u said buy above the high and about low we have to sell or buy ?doesnt clear.
thanks,
20pts guaranteed a day and with a 1:1 risk to reward ratio...I think we would all like that.:-)
just realised this is an old thread. doh!